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FHLBank Atlanta First-time Homebuyer Product (FHP)

Federal Home Loan Bank of Atlanta (through participating member financial institutions) · District of Columbia

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See what you qualify forOfficial program site →
Assistance

$17,500

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is FHLBank Atlanta First-time Homebuyer Product (FHP)?

FHLBank Atlanta First-time Homebuyer Product (FHP) is a grant for homebuyers in District of Columbia, administered by Federal Home Loan Bank of Atlanta (through participating member financial institutions).

  • The FHLBank Atlanta First-time Homebuyer Product (FHP), funded through FHLBank Atlanta's Affordable Housing Program (AHP) Homeownership Set-aside, provides up to $17,500 in grant funds toward down payment, closing costs, and principal reduction for first-time homebuyers. FHLBank Atlanta's district includes Washington, D.C. Funds are accessed through a participating FHLBank Atlanta member financial institution and are available first-come, first-served.
  • Up to $17,500 in down payment, closing cost, and/or principal reduction assistance for first-time homebuyers.
  • Funding comes from FHLBank Atlanta Affordable Housing Program (AHP) Homeownership Set-aside.

How much assistance does it provide?

FHLBank Atlanta First-time Homebuyer Product (FHP) offers up to $17,500 in assistance.

  • Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Atlanta (through participating member financial institutions) determines any individual award.

Do you have to pay it back?

FHLBank Atlanta First-time Homebuyer Product (FHP) is structured as a grant, so it is not repaid.

  • Repayment is triggered by 5-year retention period secured by note/security instrument; repayment (typically pro-rated) may be triggered by sale, transfer, or refinance during the retention period.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHLBank Atlanta First-time Homebuyer Product (FHP) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • Borrower must be a first-time homebuyer and contribute at least $1,000 toward the purchase. Income must be at or below the greater of 80% of county AMI or the state median family income (HUD figures, adjusted for family size). Homebuyer counseling from an FHLBank Atlanta-designated counseling provider is required. Funds carry a 5-year retention period secured by a note and security instrument; pro-rated repayment may apply on sale/refinance within the retention period. Must apply through and funds reserved by an FHLBank Atlanta member financial institution; availability is first-come, first-served and subject to annual funding. $17,500 figure per 2025 product cycle.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

FHLBank Atlanta First-time Homebuyer Product (FHP) limits household income to 80% of the area median income, which varies by county and household size.

  • Income must be at or below the greater of 80% of the county area median income or the state median family income, as published annually by HUD and adjusted for family size.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

FHLBank Atlanta First-time Homebuyer Product (FHP) serves buyers purchasing anywhere in District of Columbia.

How do you apply?

Applications for FHLBank Atlanta First-time Homebuyer Product (FHP) go through Federal Home Loan Bank of Atlanta (through participating member financial institutions), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Federal Home Loan Bank of Atlanta (through participating member financial institutions) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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